Moody's rates Rexair loans B1

Moody's Investors Service said it assigned a first-time B1 rating to Rexair Holdings, Inc.'s new senior secured credit facility, which is comprised of a $124 million five-year term loan and a $20 million five-year revolver. At the same time, Moody's assigned a B1 senior implied rating.

The outlook is stable.

The ratings reflect the company's strong and consistent operating margins, global diversification of its sales and reasonable leverage offset by high product concentration, limitations of its distribution system, the issuer's modest size, limited growth opportunities and the intense competition in the mature floor care industry, the agency said.

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